Twitter shareholders just voted against studying the feasibility of turning Twitter into a company owned by its users rather than investors.
At Twitter’s shareholder meeting, held on May 22nd, shareholders considered Proposal No. 4 to investigate whether Twitter should be reorganized as something else, such as a cooperative or an employee owned company.
Citing the Green Bay Packers, REI, and the Associated Press as examples, the site, buytwitter.org, thought the change would make Twitter more “democratic”.
Unfortunately for buytwitter.org, in this election, 323,830,975 Twitter shareholders were against the proposal while 15,978,718 were in favor.